'Fog computing' market to see rapid growth from IoT, cloud

February 15, 2017 //
By Jean-Pierre Joosting

Global fog computing - referring to the ability to store data and retrieve it from off-site locations - is forecast to grow at a CAGR of 60.67% over the period of 2017 to 2021, according to market analysis firm ReportsnReports.com.

Key drivers in this market are the rapid adoption of the IoT and in particular M2M (machine-to-machine) communications.

According to the fog computing market report, the increased adoption of communication devices in the transportation sector and the emergence of new players in the market have led to a decline in the prices of communication devices. Also, technological advances have helped the transportation and logistics sector to simplify commercial transportation systems.

This has accelerated the development of low-cost communication devices. The cost of sensors is also declining as a large number of established and start-up firms develop sensor devices for IoT.

The sensors are an important component of IoT in the transportation system. Declining prices of the sensors have encouraged transportation authorities to build smart transportation systems. Thus, the affordability of components of IoT devices has increased the adoption rate of IoT in the transportation sector.

M2M is an important feature in the telecom and IT landscape as it helps connect remote sensing, monitoring, and actuating devices. M2M communication systems in the transportation sector are gaining prominence quickly in the fog computing market. These systems enable communication among smart devices over a wired or wireless networking infrastructure.

Not only does M2M enable machines to connect and interact securely over a network, it also keeps track of safety and security measures by providing remote access, 24x7 monitoring, and automated emergency response.